Here’s a quick-reference sheet for some of the 2024 key financial planning numbers. It includes tax brackets, retirement plan contribution maximums, education credits, estate tax exemptions, HSA and FSA maximums, and social security maximum taxable earnings.
As a highlight, the 401(k) limit increased to $23,000. Catch-up stayed the same at $7,500.
The IRA (Roth or traditional) contribution limit increased to $7,000. Catch-up stayed the same at $1,000.
HSA contribution limit increased to $4,150 for individual or $8,300 for family.
If you have questions on how these updates affect your financial plan, please let us know.